[HALIFAX] — Copies of “Road to Growth: How Lagging Economies Become Prosperous”, have been supplied to all members of the British Columbia Legislative Assembly. The groundbreaking book, released by AIMS in January 2000, lays out the very different experience of places as diverse as Ireland, Holland and Georgia in the US South, in turning their previously lagging economies into economic powerhouses. The BC division of the Canadian Taxpayers Federation thought the book’s message was so important that they wanted to ensure that all the members of the new legislature were given copies. The book, and its companion volume, “Retreat from Growth: Atlantic Canada and the Negative Sum Economy”, are now summer reading for
all 77 BC MLAs.
The lessons outlined in “Road to Growth” should be of great interest to anyone looking to build a stronger economy, whether they live on the east, or the west, coast of Canada,” says AIMS President Brian Lee Crowley. “AIMS is pleased to see our work is having an impact literally across Canada.”
The public policy approach adopted by the jurisdictions highlighted in “Road to Growth” is summarised in the book as follows: They saw that trying to prop up dying industries was a mug’s game. Public debt needed to be brought under control, taxes lowered, and excellent value offered in public services when measured against the taxes paid. Politics needed to be banished from decisions about where and how to invest, whether in public infrastructure or private industry. Work incentives needed to be improved by reforming social welfare. Profitability in the private sector needed to be improved. And costs, including labour costs, needed to be kept keenly competitive. The sum of these measures was a policy environment in which business had every reason to invest and build productive capacity, while workers had every reason to work hard and build their job skills. As the capital investment grew and workers became more skilful, real wages rose along with tax revenues, and a virtuous circle was created. Growth bred more growth, success bred more success.
For further information, contact:
Brian Lee Crowley, President, AIMS, 902-499-1998